Trump's Powell Talk Rattles Wall Street
UNITED STATES, JUL 16 – President Trump denied plans to fire Fed Chair Powell amid ongoing criticism of interest rate policies, helping U.S. stocks recover after initial market losses, with Goldman Sachs up 22% year to date.
- Markets experienced a rollercoaster on Wednesday after a Bloomberg report said President Trump was close to firing Federal Reserve Chair Jerome Powell.
- This came amid Trump's long-standing desire for lower interest rates and his criticism of the Fed's rate policy and renovation project.
- Stocks initially dropped but recovered as Trump downplayed firing Powell, calling it "highly unlikely" and Powell emphasized waiting for tariff data before Fed moves.
- The Dow Jones closed up 231.49 points at 44,254.78, while the S&P 500 rose 0.3%, and Global Payments shares gained 6.7% after activist interest increased.
- The episode highlighted ongoing tariff tensions affecting inflation and markets, as Powell awaits more data and investors focus on upcoming bank earnings.
124 Articles
124 Articles
LancasterOnline
Wall Street steady again after Trump downplays threat to Fed Chair Jerome Powell's job
Early trading on Wall Street is muted as markets appeared to calm after President Donald Trump walked back his earlier threats to fire Federal Reserve Chair Jerome Powell. Futures for the S&P 500 were unchanged before the bell Thursday, while…
Yesterday, the U.S. president briefly shook the markets after acknowledging that he had tested a group of Republican congressmen for the early cessation of Jerome Powell. The head of the Federal Reserve has been one of the favourite targets of Donald Trump’s criticisms in the past year, even before his return to the White House. The possibility of a fulminant dismissal impacted the stock market, the U.S. debt and its currency, to vanish shortly …
Montana Standard
North Platte Nebraska's NewspaperTrump's Powell talk rattles Wall Street
NEW YORK — President Donald Trump sent the U.S. stock market on a jagged round trip Wednesday after saying he "talked about the concept of firing" the head of the Federal Reserve. Such a move could help Wall Street get…
Trump says he’s not planning to fire Fed’s Powell - Hawaii Tribune-Herald
WASHINGTON — President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell, but he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates. A Bloomberg report earlier Wednesday saying that Trump was likely to fire Powell soon sparked a drop in stocks and the dollar, and a rise in Treasury yields. Trump, who has been criticizing Powell on an a…
Trump may have broken Wall Street
This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line. You can’t even joke about that, the Wall Street intellectuals told us — the central bank’s independence is simply too important.
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